Excitation Systems Market to Reach US $3.18 Billion by 2029

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The Business Research Company’s Excitation Systems Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Estimated Industry Size Of Excitation Systems Market?
The market size of excitation systems has steadily expanded in the past few years. The projected growth is from $2.67 billion in 2024 to $2.76 billion in 2025, with a compound annual growth rate (CAGR) of 3.4%. Factors contributing to the growth during the historic period include electricity demand, industrial expansion, urban growth, concerns about grid stability, and energy shortages.

In the coming years, the size of the excitation systems market is anticipated to experience consistent growth. The market is projected to expand to a value of $3.18 billion in 2029, with a compound annual growth rate (CAGR) of 3.6%. This growth over the predicted period can be credited to factors such as the evolution of the smart grid, the integration of renewable energy and energy storage, initiative for grid modernization, and efforts to mitigate climate change. The period also forecasts major trends involving digitalization, remote monitoring, the development of optimized control algorithms, modular and scalable designs, asset management, and the use of plug-and-play compatibility, as well as renewable energy sources.

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What Are The Major Factors Driving The Excitation Systems Global Market Growth?
The increasing popularity of solar and wind power is driving the excitation system market. Solar and wind power, as renewable sources, provide clean alternatives to fossil fuels, reducing emissions. Excitation systems, through synchronous generators, convert mechanical to electrical energy in such plants. The U.S. Energy Information Administration projected in January 2024 that U.S. solar generation would rise by 75% from 163 billion kWh in 2023 to 286 billion kWh in 2025, while wind power would increase by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Consequently, the growing use of solar and wind power is boosting the excitation system market.

Who Are The Leading Companies In The Excitation Systems Market?
Major players in the Excitation Systems include:

• General Electric Company
• Mitsubishi Electric Corporation
• Siemens Energy AG
• ABB Ltd.
• Nidec Corporation
• Rolls-Royce Holdings plc
• Emerson Electric Co.
• Melrose Industries PLC
• ANDRITZ AG
• Fuji Electric Co. Ltd.

What Are The Future Trends Of The Excitation Systems Market?
Leading firms in the excitation system market, such as Reivax North America Inc., are using strategy of collaborations to modernize power generation infrastructure, boosting efficiency, reliability and sustainability in power generation. As part of these collaborations, older e-excitation systems are being replaced to enhance power generating facilities. For example, in October 2022, US-based Reivax North America partnered with the German tech company Siemens AG, to swap out the existing UNITROL F static excitation system for a Siemens created steam turbine; this turbine benefits from steam supplied by two GE LM6000 turbines. Thanks to its comprehensive design-build-install solution which emphasized technical superiority, reliability, safety, and cost-efficiency, Reivax North America won the contract through a competitive bidding process. The project will utilise the REIVAX RTX Power static excitation system, lauded for its adaptability in hydro and non-hydro power plants, and its use in synchronous motor excitation systems.

What Are The Primary Segments Covered In The Global Excitation Systems Market Report?
The excitation systemsmarket covered in this report is segmented –

1) By Type: Rotational, Static, Brushless
2) By Controller Type: Analog, Digital
3) By Application: Synchronous Generator, Synchronous Motor
4) By End User: Power Generation Industry, Heavy Industries, Original Equipment Manufacturer (OEMs), Other End Users

Subsegments:
1) By Rotational: Synchronous Rotational Exciters, Permanent Magnet Rotational Exciters
2) By Static: Thyristor-Controlled Static Exciters, Capacitor-Excited Static Exciters
3) By Brushless: Brushless Alternators, Self-Excited Brushless Systems

View the full excitation systems market report:
https://www.thebusinessresearchcompany.com/report/excitation-systems-global-market-report

Which Region Is Forecasted To Grow The Fastest In The Excitation Systems Industry?
In 2024, North America led the way as the biggest player in the excitation systems industry, with Asia-Pacific predicted to experience the quickest growth within the forecasted period. The excitation systems market report explores multiple regions globally including Asia-Pacific, North America, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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